November 2009

Brentwood Homes Price Value Analysis

November 28, 2009 by admin · View Comments  

I was recently asked by a client to research all available homes in Brentwood priced above $500,000 that were built after 1997 and have at least 4,000 square feet, 4 bedrooms, 3 bathrooms and a 3 car garage. This particular executive client is in search of a primary residence in Brentwood, but would like to ensure that he is buying the best mixture of value, location and quality. Prior to speaking... [Read the entire article…]

West End Condo Auction Details

November 27, 2009 by admin · View Comments  

The West End condo auction in Nashville is set to take place at 11:00am on Saturday, December 5th onsite in the West End itself. 45 condos will be sold at auction with an unknown reserve price in place. However, in an announcement made just yesterday, the auction will now include a yet undisclosed number of condos selling absolute without reserve. I am told that the developer will identity the specific... [Read the entire article…]

Thanksgiving Real Estate Humor

November 26, 2009 by admin · View Comments  

I don’t know about you guys, but I know way too many property owners who are feeling like the turkey on the left. In an effort to show you that your situation could always be worse, here are a three mega tales of real estate loss…I hope these make you feel just a little bit better: The $200 billion CalPERS real estate investment portfolio has lost 23.5% of its value in the last fiscal... [Read the entire article…]

Terrazzo Re-Prices 30 Condos at Auction Rates

November 24, 2009 by admin · View Comments  

In a move that has both shocked some people and delighted others, the sellers of the Terrazzo condos in Nashville have decided to extended the auction prices. Although these prices do not currently appear on the MLS, they are available on the Terrazzo’s website and were direct emailed to all of the buyers and agents who participated in last Saturday’s auction. A lot of people have asked... [Read the entire article…]

30 Year Home Mortgage Rates Update

November 23, 2009 by admin · View Comments  

Rates for 30-year home mortgages approached the all-time low of 4.78 percent again last week, falling to 4.83 percent from an average of 4.91 percent a week ago. The 15-year rate did reach a new bottom, dipping from 4.40 percent to 4.32 percent – the lowest level since Freddie Mac began tracking rates in 1991. Wellesley College economist Karl Case says the Federal Reserve’s efforts to purchase... [Read the entire article…]

Video of the Terrazzo Condo Auction in Nashville

November 22, 2009 by admin · View Comments  

This is video of Terrazzo condo #1407 during the by Accelerated Marketing Partners on Saturday November 21st, 2009. Condo #1407 was the 18th condo to be auctioned and sold for 62.82% of the original asking price. Click here for a complete list of the condo auction results. See all condos for sale in The Terrazzo

The Terrazzo Auction Results

November 21, 2009 by admin · View Comments  

The results of the Terrazzo auction are in and it appears that my predictions are right on target. 25 condos sold at an average price of $233.01 per foot with a couple of sales reaching over the $250/ft mark. The average total price of $283,600 represents 62.48% of the original asking prices at Terrazzo. Approximately 220 people attended the auction at the Renaissance Hotel in downtown Nashville,... [Read the entire article…]

Nashville Terrazzo and West End Condo Auctions

November 20, 2009 by admin · View Comments  

Both the Terrazzo and the West End condo auctions are set to occur in the next 2 weeks. The Terrazzo auction will happen tomorrow, Saturday November 21st at 1:00pm at the Renaissance Hotel in downtown Nashville. The West End auction is scheduled for Saturday December 5th at a yet undetermined time in the West End condo building itself. The Terrazzo Auctioneers The Terrazzo has hired Accelerated Marketing... [Read the entire article…]

Nashville Mortgage Rates at Lowest Level in Five Weeks

November 17, 2009 by admin · View Comments  

The 30-year fixed mortgage rate fell to 4.91 percent for the week ended Nov. 12, , down from an average of 4.98 percent a week earlier, and has now been below 5 percent for five of the last seven weeks, reports Freddie Mac. Also, 15-year fixed loans fell to 4.36 percent from 4.40 percent; five-year hybrid adjustable-rate mortgages declined to 4.29 percent from 4.35 percent; and one-year ARMs slipped... [Read the entire article…]

Advice for Nashville Condo Buyers

November 16, 2009 by admin · View Comments  

Quite a few people have been calling, emailing, Facebooking, instant messaging, tweeting and texting me with a million different variations of basically the same two questions. 1) I am a potential condo buyer, where can I buy the best deal in Nashville and 2) Which building(s) are the safest for condo investment? General advice for condo buyers Now is a great time to be a buyer, in fact, the next... [Read the entire article…]

The West End Condo Auction Liquidation Sale

November 12, 2009 by admin · View Comments  

The second Terrazzo style condo auction has been booked as predicted, but this one is a little bit more surprising. I am not necessarily shocked that it is the West End building, but I am totally floored by the number of condos being auctioned…45. The December 5th auction will include 5 one-bedroom units, 25 two-bedroom units and 15 three-bedroom units. The retail value of the condos range... [Read the entire article…]

October 2009 Nashville Real Estate Market Analysis

November 11, 2009 by admin · View Comments  

The Middle Tennessee MLS (Realtracs) just released October 2009 stats. The adjacent graph and analysis are based upon the residential single family homes and condos market only. As you may recall in September, the number of closings and pending transactions took a hit, but inventory did burn off. Did October begin a trend of real estate market deterioration or is Nashville back on track? Total... [Read the entire article…]